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The next steps automakers could take after sales drop again in April

DETROIT (Reuters) - Major automakers on Tuesday posted declines in U.S. new vehicle sales for April in a sign the long boom cycle that lifted the American auto industry to record sales last year is losing steam, sending carmaker stocks down. The drop in sales versus April 2016 came on the heels of a disappointing March, which automakers had shrugged off as just a bad month. But two straight weak months has heightened Wall Street worries the cyclical industry is on a downward swing after a nearly uninterrupted boom since the Great Recession's end in 2010. Auto sales were a drag on U.S. first-quarter gross domestic product, with the economy growing at an annual rate of just 0.7 percent according to an advance estimate published by the Commerce Department last Friday. Excluding the auto sector the GDP growth rate would have been 1.2 percent. Industry consultant Autodata put the industry's seasonally adjusted annualized rate of sales at 16.88 million units for April, below the average of 17.2 million units predicted by analysts polled by Reuters. General Motors Co shares fell 2.9 percent while Ford Motor Co slid 4.3 percent and Fiat Chrysler Automobiles NV's U.S.-traded shares tumbled 4.2 percent. The U.S. auto industry faces multiple challenges. Sales are slipping and vehicle inventory levels have risen even as carmakers have hiked discounts to lure customers. A flood of used vehicles from the boom cycle are increasingly competing with new cars. The question for automakers: How much and for how long to curtail production this summer, which will result in worker layoffs? To bring down stocks of unsold vehicles, the Detroit automakers need to cut production, and offer more discounts without creating "an incentives war," said Mark Wakefield, head of the North American automotive practice for AlixPartners in Southfield, Michigan. "We see multiple weeks (of production) being taken out on the car side," he said, "and some softness on the truck side." Rival automakers will be watching each other to see if one is cutting prices to gain market share from another, he said, instead of just clearing inventory. INVESTORS DIGEST BAD NEWS Just last week GM reported a record first-quarter profit, but that had almost zero impact on the automaker's stock. The iconic carmaker, whose own interest was once conflated with that of America's, has slipped behind luxury carmaker Tesla Inc in terms of valuation.

2021 Lexus LC 500 Convertible Interior Driveway Test | Lexus at its best

The 2021 Lexus LC 500 Convertible is a blessing in the form of a car. Its 5.0-liter naturally aspirated V8 makes one of the best sounds in automobiledom, and one look will have anybody’s jaws on the ground. Climb inside, and the hits donÂ’t stop coming. In our specific test car, the first thing we notice are the miles of Toasted Caramel leather. ItÂ’s everywhere, and its expensive feel and quality are second to none at this price point. You can get black or red leather, but the Toasted Caramel tan is the classiest option available for the Convertible. Shades of tan on the doors, seats and headrests give it a mild two-tone look, making the color combo even more pleasing. And once you start to look closer at the intricate stitching, quilted seat bolsters, perforations and delicate piping throughout, the LC 500Â’s interior will begin to truly wow with its design. Take the door panel, for example. Rarely would we wax poetically about a door panelÂ’s design, but this one is too damn elegant to not call out. The slender and curved metal door handle looks like a sculpture, and its action is satisfyingly upscale. The checked pattern of leather in a different tone splitting the main swaths of leather is another nice touch. Little things like this can delight and bring a carÂ’s interior from above average to excellence. The LC 500 Convertible is full of these tiny delights. 2021 Lexus LC 500 Convertible View 34 Photos One rather entertaining bit is the trap door ahead of the center console that hides your roof operation switch. It makes you feel like James Bond fiddling around for a secret “eject” button each time you go to raise or lower the roof. But then you remember youÂ’re in a Japanese grand tourer, not a British sports car. Your passenger has two grab handles to hold onto should the road turn twisty, both incorporated into the carÂ’s design in a natural and classy way. The most delightful aspect of all is overall design itself. The flat plane of a dash is interrupted by a long overhanging piece that begins at the widescreen infotainment display. This leads into a physical clock and decorative trim piece, then runs all the way to the passenger side door. Below this is a second flat expanse, giving the dash a plateau look from door-to-door. Utility and usefulness is not top of mind in a convertible grand tourer, but the LC 500 is not devoid of road trip conveniences. The center armrest opens up to a decent amount of space.

Are you the Lexus GS F?

It's been a while since we've heard rumors of the fabled high-performance Lexus GS F, but thanks to our eager spy photographers, this looks to be our first real proof of the machine's existence. We don't have the usual brace of photos from all angles to work with this time around, our spies saying that every time Lexus' garage door opened, engineers jumped in front of the cameras to prevent the car from being photographed.
Even so, we have a pretty clear glimpse at some significant changes to this GS sedan, including the same staggered, quad-pipe exhaust found on the Lexus IS F. There's also an air diffuser panel nestled between the exhaust outlets, as well as a larger lip spoiler and unique wheels (matching those of the RC coupe) wrapped in high-performance tires.
Last time we heard rumors of the GS F's existence, sources predicted that the M5-fighting sedan would use a tuned version of Lexus' 5.0-liter V8, producing something like 465 horsepower. We have also heard that the automaker plans to reduce weight wherever possible, and that the final curb weight will be something like 3,700 pounds.